Covid-19 accelerates cash decline in Sweden
Riksbank report shows payments through Swish have already overtaken cash
Cash usage in Sweden has further declined in 2020 as a result of the dynamics fostered by the pandemic, says a report published by Sveriges Riksbank.
The central bank’s annual payments report says 50% of people in Sweden have used cash over the last 30 days. This is sharply below the 93% recorded in 2012. This has coincided with a rapid increase in the use of the digital payments platform Swish, which has grown from 0% usage in 2012 to 75% this year.
Debit cards were the most popular payment
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